The US Dollar Index (DXY) is paying attention to US job data
The US Dollar Index (DXY) is paying attention to US job data amid global economic ups and downs, while also dealing with weak Chinese PMI data and currency fluctuations.
Last night, there was quiet trading with low volumes. The DXY, which measures the US dollar's strength against other currencies, slightly rose to 103.08.
This morning, the US dollar went up again after disappointing PMI data from China. The numbers suggest that the Chinese economy is slowing down, and more stimulus may be needed.
This week, important job data will affect the DXY. Currently, there is a positive outlook with the DXY facing resistance at 103 and showing some positive signs.
According to the latest developments, international rating agency Moody's expressed the view that normalization in monetary policy in Turkey would support the profitability of banks. This indicates that Turkey is in an economic recovery process and that banks are on a stronger footing.
However, analysts from Danske Bank argued that the policy rate hike by the Central Bank of the Republic of Turkey (CBRT) from 8.5% to 15% is not sufficient. They predict that the Turkish lira will continue to depreciate and expect the CBRT to gradually increase the policy rate to 25%.
The Russian Ministry of Foreign Affairs claimed that there is no reason to continue the Black Sea Grain Corridor Agreement. This suggests that there may be uncertainties in trade relations following the termination of the agreement.
Ahead of the NATO Summit, US President Biden had a phone call with German Chancellor Scholz. The leaders agreed to collaborate in strengthening the NATO alliance and discussing the agenda of the summit.
Kosovo's Prime Minister Kurti stated that the EU's punitive measures against Kosovo are unfair and have destabilized the dialogue between Kosovo and Serbia. This indicates challenges in Kosovo's relations with the EU and regional stability efforts.
Chinese media outlet Global Times conveyed the message that China will continue to play an active role in the global chip supply chain, following China's move to restrict the exports of two metals crucial for semiconductor and electric vehicle production.
Last night, there was quiet trading with low volumes. The DXY, which measures the US dollar's strength against other currencies, slightly rose to 103.08.
This morning, the US dollar went up again after disappointing PMI data from China. The numbers suggest that the Chinese economy is slowing down, and more stimulus may be needed.
This week, important job data will affect the DXY. Currently, there is a positive outlook with the DXY facing resistance at 103 and showing some positive signs.
According to the latest developments, international rating agency Moody's expressed the view that normalization in monetary policy in Turkey would support the profitability of banks. This indicates that Turkey is in an economic recovery process and that banks are on a stronger footing.
However, analysts from Danske Bank argued that the policy rate hike by the Central Bank of the Republic of Turkey (CBRT) from 8.5% to 15% is not sufficient. They predict that the Turkish lira will continue to depreciate and expect the CBRT to gradually increase the policy rate to 25%.
The Russian Ministry of Foreign Affairs claimed that there is no reason to continue the Black Sea Grain Corridor Agreement. This suggests that there may be uncertainties in trade relations following the termination of the agreement.
Ahead of the NATO Summit, US President Biden had a phone call with German Chancellor Scholz. The leaders agreed to collaborate in strengthening the NATO alliance and discussing the agenda of the summit.
Kosovo's Prime Minister Kurti stated that the EU's punitive measures against Kosovo are unfair and have destabilized the dialogue between Kosovo and Serbia. This indicates challenges in Kosovo's relations with the EU and regional stability efforts.
Chinese media outlet Global Times conveyed the message that China will continue to play an active role in the global chip supply chain, following China's move to restrict the exports of two metals crucial for semiconductor and electric vehicle production.
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